Vishal Information Technologies fell 1.47% to Rs 12.75 at 11:24 IST on BSE, after the company said its only promoter Tutis Technologies pledged additional 30 lakh shares representing 1.24% of the equity capital of the company.
The company made this announcement after market hours on Wednesday, 4 November 2009.
Meanwhile, the BSE Sensex was down 212.82 points, or 1.34%, to 15,673.85.
On BSE, 88,915 shares were traded in the counter as against an average daily volume of 6.98 lakh shares in the past one quarter.
The stock hit a high of Rs 13.45 so far during the day. The stock hit a low of Rs 11.50 so far during the day, which is a 52-week low for the counter. The stock had hit a 52-week high of Rs 45.27 on 4 June 2009.
The small-cap stock had underperformed the market over the past one month till 4 November 2009, declining 22.51% as compared to the Sensex's 7.13% fall. It had also underperformed the market in the past one quarter, falling 33.20% as compared to the Sensex's return of 0.51%.
The company's equity capital is Rs 24.18 crore. Face value per share is Rs 1.
The current price of Rs 12.75 discounts the company's Q1 June 2009 annualized EPS of Rs 1.80, by a PE multiple of 7.08.
Tutis Technologies, till 30 September 2009, pledged more than 2.26 crore shares representing 9.39% of the equity capital of the company. Total promoter shareholding in the company is 27.82% (as on 30 September 2009).
Vishal Information Technologies' net profit fell 5.51% to Rs 6.86 crore on 20.22% rise in net sales to Rs 21.94 crore in Q2 September 2009 over Q1 June 2009.
Vishal Information Technologies provides IT-enabled services (ITES) in the areas of data digitization, e-publishing and digital library.